Increase in prenups, decrease in divorce for millennials

Many people in Connecticut are aware that the generation known as the millennials is responsible for leading a variety of changes in society and this includes in the realm of marriage and divorce. Some new information from a study conducted by a researcher at the University of Maryland as well as data from the American Academy of Matrimonial Lawyers corroborates this.

As reported in Newsweek, the AAML has found that an increasing number of millennial couples are entering into prenuptial agreements before they get married. No longer are these marital contracts reserved just for the rich and famous but now they are used by people who are approaching marriage from a more prudent perspective than their predecessors may have.

Millennials are more apt to wait to get married until they have completed college and may even be a decade into their careers. This makes them more financially stable when they get married than people who marry at younger ages. This may also contribute to the increase in prenups as spouses have more assets to protect when tying the knot than in the past.

The overall divorce rate in the years from 2008 to 2018 at first glance seems to have dropped by 18 percent. After calculating changes for demographic and other shifts along the way, the true drop is closer to eight percent. Another change that is seen, however, is that millennials without a college education are more often choosing to cohabitate and not to get married at all. This is yet another contributor to a lower divorce rate.

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